Karachi, November 29, 2021 (PPI-OT): View from the desk

Today’s trading session visibly reflected phasing out of previous week’s rollover pressure as it started off with a positive momentum. Sectors such as Steel, E and P and Banks were the major contributors. The benchmark index’s positive momentum was also based on slowdown in bull-run in international commodities prices and government approval for Saudi loan, which led to lift the benchmark index by 1,303 points. At closing, KSE-100 index settled at 45,330 level, up 1,216 points. The rebalancing of MSCI Index is scheduled tomorrow, hence foreign outflow can be expected.